Tesla unveiled more affordable versions of its best-selling Model Y SUV and its Model 3 sedan on Tuesday at $39,990 and $36,990, respectively, as the electric-vehicle maker seeks to reverse falling sales and waning market share amid rising competition.Tesla shares were down 4%shortly before the close.Both versions, called Standard, offer 321 miles (516 km) of range and less powerful acceleration than the current higher trims called Premium. They can be ordered immediately, with deliveries set to start betwe ...

Core Viewpoint - Shares in Trilogy Metals surged nearly 215% following the US government's announcement of a 10% stake acquisition, which includes a $35.6 million investment in the company [1][5]. Group 1: Investment and Stake - The US government will take a 10% stake in Trilogy Metals, which is a small Canadian mining firm with only five employees [1]. - The deal includes warrants for the US government to purchase an additional 7.5% of the company [5]. Group 2: Strategic Importance - The partnership aims to unlock domestic supplies of copper and critical minerals to compete with China's reserves, as Trilogy holds interests in two mineral projects in Alaska, including the Ambler Road project [2][4]. - The Ambler Road project is a 211-mile industrial road that will provide access to significant deposits of copper, cobalt, zinc, and lead across over 1,700 active mining claims [4]. Group 3: Market Context - The minerals involved are essential for energy infrastructure, defense technologies, and manufacturing, highlighting their strategic importance [5]. - China currently dominates the critical minerals supply chain, producing nearly 70% of the world's supply of rare earths and processing about 90% [6].

Core Insights - Gold prices reached $4,000 an ounce for the first time, driven by persistent inflation, a government shutdown, and geopolitical risks [1][4] - Gold has surged over 50% this year, influenced by fears of a prolonged funding crisis and escalating trade tensions [10][19] - The demand for gold has increased significantly from both governments and consumers, with central banks, particularly in China and Russia, boosting their reserves [2][24] Price Movements - Gold futures briefly peaked at $4,005.80 before settling just below that level [1][8] - Spot gold traded at $4,002.10, reflecting a 0.6% increase [2][22] - Silver prices also rose by 1.3% to $48.22, while the dollar index fell by 0.4% [3][22] Market Sentiment - Investors are increasingly viewing gold as a hedge against inflation and political uncertainty, reminiscent of the inflationary environment of the 1970s [6][19] - Prominent investors like Ray Dalio and Ken Griffin have expressed concerns about the long-term stability of the US dollar and the implications of fiscal policies [3][7] - The trend of investing in gold is seen as a response to fears of currency depreciation and market volatility [6][22] Central Bank Activity - Central banks are accumulating gold at a record pace, with over 70% of monetary authorities planning to increase their gold holdings this year [24] - The trend is particularly strong among countries like China, India, and Turkey, indicating a strategic shift in reserve management [24] Economic Context - The current economic environment is characterized by high inflation, record borrowing, and heavy government spending, prompting a flight to hard assets like gold [6][19] - The S&P 500 has risen about 14% this year, but the parallel rise in gold prices suggests underlying investor anxiety about future economic conditions [20][22]

NEW DELHI (AP) — India’s leading body of pilots has asked the civil aviation regulator to inspect all Boeing 787 Dreamliners operating in the country for electrical issues after one of the planes abruptly deployed an emergency power system midair over the weekend.The device, a small propeller that acts as a backup generator and which is known as the ram air turbine, or RAT, normally would be activated when an aircraft’s engines lose power, its hydraulic systems register critically low pressure or its electr ...

Core Insights - Verizon Communications has appointed Dan Schulman, former CEO of PayPal, as its new CEO, replacing Hans Vestberg, in a leadership transition aimed at addressing slowing growth in the wireless market [1][8] - The appointment comes amid rising competition and a decline in subscriber growth, with consumers showing reluctance to purchase premium plans [1][8] Leadership Background - Dan Schulman, aged 67, led PayPal for nearly a decade, overseeing its split from eBay and a significant increase in online transactions during the COVID pandemic [2][4] - Schulman has been on Verizon's board for seven years and emphasizes improving customer experience and driving financial results that exceed market expectations [4] Previous CEO's Tenure - Hans Vestberg's leadership included a $52 billion acquisition of key wireless C-Band spectrum and a $20 billion deal for Frontier Communications, alongside a $6 billion acquisition of TracFone Wireless [4][6] - Vestberg's tenure was characterized by substantial investments in 5G networks and attempts to diversify revenue, although the company later exited most media holdings [7][10] Market Context - Verizon is facing increasing pressure from competitors AT&T and T-Mobile US as the U.S. wireless market matures, leading to a challenging environment for subscriber growth [7][10] - The recent leadership change reflects a broader trend in the U.S. telecom sector, with market leaders adapting to fierce competition for consumer spending [11]

Core Viewpoint - Fifth Third Bancorp is acquiring Comerica for $10.9 billion in an all-stock transaction, creating the 9th largest bank in the US with approximately $288 billion in assets [1][3]. Company Overview - The merger will enhance Fifth Third's presence in the Southeast, Texas, and California, while solidifying its position in the Midwest [1][3]. - By 2030, over half of Fifth Third's branches are expected to be located in high-growth markets such as the Southeast, Texas, Arizona, and California [1]. Shareholder Impact - Comerica shareholders will receive 1.8663 shares of Fifth Third for each share they own, equating to $82.88 per share based on Fifth Third's closing stock price [3]. - Post-merger, Fifth Third shareholders will own approximately 73% of the combined entity, while Comerica shareholders will hold about 27% [4]. Board Composition - Three members from Comerica's board will join Fifth Third's board after the merger, with Comerica's CEO becoming vice chair and its chief banking officer leading Fifth Third's wealth and asset management division [9]. Market Context - The acquisition is part of a broader trend of consolidation in the regional banking sector, as seen with PNC Financial's recent acquisition of FirstBank for $4.1 billion [6][11].

Tesla teased an Oct. 7 event, in which investors and analysts anticipate a more affordable model to sustain sales momentum, sending the shares of the Elon Musk-led electric automaker 3% higher in early trading on Monday.In a nine-second video posted on social media platform X on Sunday, Tesla showed a vehicle with its headlights illuminated in a dark setting, while hinting at an event set for Tuesday in a separate video that had “10/7” at the end.Tesla has previously delayed rolling out a lower-cost version ...

Luxury carmaker Aston Martin on Monday warned of a deepening annual loss due to weaker than expected demand in North America and Asia Pacific and the impact of US tariffs, sending shares 10% lower.The company said that its annual loss will now exceed 110 million pounds ($147.81 million), marking a sharp deterioration from July, when Aston Martin first warned that tariffs had been “extremely disruptive” and forecast adjusted operating profit would roughly break even this year compared with earlier expectatio ...

Core Insights - AMD has secured a deal to supply OpenAI with hundreds of thousands of AI chips, potentially granting OpenAI a 10% stake in AMD [1][5] - AMD's stock surged by 27%, adding nearly $80 billion to its market capitalization following the announcement [1][3] - The agreement includes a significant deployment of six gigawatts of power, sufficient to supply 5 million US households, starting in the second half of 2026 [1][3] Financial Implications - The deal is projected to generate tens of billions of dollars in revenue for AMD while enhancing OpenAI's AI infrastructure capabilities [3][4] - OpenAI's CEO highlighted the partnership as a crucial step in building the necessary compute capacity for AI development [3][4] Strategic Developments - OpenAI plans to establish a one-gigawatt facility utilizing upcoming AMD Instinct MI450 chips, with the project commencing next year [4][6] - AMD has issued OpenAI a warrant for up to 160 million shares of common stock, contingent on achieving specific milestones [4][5] Competitive Landscape - This partnership is one of the largest GPU deployment agreements to date and aims to diversify OpenAI's supplier base, reducing its dependence on Nvidia [6][11] - Nvidia's shares fell by 1.1% following the announcement, indicating potential market shifts due to AMD's new role [6][11] Broader Industry Trends - OpenAI is also negotiating with Broadcom for custom chips for its next-generation GPUs, reflecting a trend towards a more complex supply chain in the AI sector [7][9] - The collaboration aligns with a larger initiative, reminiscent of the $500 billion Stargate project aimed at rapidly developing AI infrastructure in the US [9][10]

Core Insights - Firefly Aerospace is acquiring SciTec for approximately $855 million, funded by $300 million in cash and $555 million in Firefly shares, with the deal expected to close by the end of the year [1][4][6] - The acquisition aims to enhance Firefly's space services by integrating SciTec's defense software analytics, which includes missile warning, tracking, and defense capabilities [4][6] - The deal positions Firefly to capitalize on increasing investor interest in military and civil space programs amid rising geopolitical tensions [6] Company Developments - Firefly's valuation reached $9.84 billion following a nearly 56% surge in its Nasdaq debut, marking the largest US listing by a space tech firm in 2023 [2] - SciTec will operate as a unit of Firefly under its current CEO, Jim Lisowski, post-acquisition [4][6] - Firefly has faced challenges, including a bankruptcy in 2017 and a recent testing mishap that destroyed its Alpha rocket booster [6][7]